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Section 709
Contract law shall be as determined by the parties:

(1) The governing law of any contract shall be as determined by the parties to such contract.
(2) If the law is not determined according to sub-section (1), such agreement will be regulated according to the law of the country where such agreement is to be performed and if such country cannot be determined, such agreement will be regulated according to the law of the country where such agreement was concluded. However, the agreement concluded in Nepal will be regulated by the law of Nepal itself.